Macrotech Developers (Lodha Group) is raising about Rs 4,000 crore equity through preferential placement to the institutional investors. Key points to note – Issue comprises of 3.4 crore fresh issues of shares at floor price of Rs 1184.7/ share It would entail 7.5% dilution of the existing shareholders Objective of the fund raise is wide … Read more
ICICI bank calls it – interoperable app What is it? In general you can not use any bank’s app if you are not it’s customer. Every bank asks the user to login before using. ICICI decided to do away with it last year, did a soft launch in December 2020 and a full launch in … Read more
When everyone is going aggressive on Electric Vehicles (EVs), Maruti Suzuki India (MSI) continues to focus greater and greater on CNG cars. It expects it’s CNG car sales to almost double this fiscal year over 2020-21. Key points to note – Around 1.9 lakh CNG cars were sold in the country in FY 21 with … Read more
The Rs 600-crore initial public offering (IPO) for , a data and analytics consulting company, was subscribed 339 times, making it the most subscribed IPO ever in India. The previous best was 304 times subscription for Paras Defence’s IPO, which was listed on October 1. The institutional part of Latent View’s IPO was subscribed 151 … Read more
Jeremy Grantham said Tesla stock is overvalued, and the automaker will face tough competition. The GMO boss diagnosed a massive asset bubble and predicted a historic crash. Grantham slammed the Fed for juicing markets and cautioned investors not to ignore inflation. Tesla stock is in a bubble, and Elon Musk’s electric-vehicle company has zero chance … Read more
India’s industrial output fell 2.6% month-on-month in September even as retail inflation inched up marginally to 4.48% in October with a sharper rise in urban price trends, as per data from the National Statistical Office. Compared to September 2020, the Index of Industrial Production (IIP) grew 3.1% in this year September, the pace of growth … Read more
Alibaba raked in a record 540.3 billion Chinese yuan ($84.54 billion) in orders over Singles’ Day. That’s a jump of 8.45% from last year’s shopping extravaganza, but the lowest growth rate in the event’s history. The moderation comes amid a slowdown in Chinese consumption as the government cracks down on everything. Alibaba raked in a … Read more